Pi Network (PI) falls nearly 20% in a single month: Investors slowly withdraw funds, short-term rebound fails to curb bearish sentiment.

Pi Network (PI) has fallen nearly 20% in a single month. Despite a slight short-term rebound following the broader market, today's (18th) Asian early session reports a price of 0.4457 USD, but the price faces severe challenges in the near term. Investor anxiety is deepening, and the withdrawal volume has also increased.

Currently, the price of PI is approaching the all-time low (ATL), causing many holders to become cautious and lose interest in long-term holding.

PI investors are slowly withdrawing funds

In the past few weeks, market confidence in Pi coin has significantly weakened. The weighted sentiment index (a measure of investor optimism) has dropped sharply, falling to its lowest point in three months. This indicates that skepticism about the future of Pi coin is significantly increasing.

As emotions become more negative, investors may continue to reduce their holdings, thereby putting downward pressure on Pi.

As the number of people willing to hold tokens decreases, the market may struggle to maintain a bullish trend, and Pi coin may also find it difficult to regain upward momentum. These factors have led to the continuation of the downtrend and raised concerns about the recent risk of a reversal.

(Source: Santiment)

The overall macro trend of Pi is also facing resistance. The Chaikin Money Flow (CMF) indicator, which measures the inflow and outflow of funds into and out of assets, has fallen to a three-month low. This indicates that Pi is experiencing strong capital outflows, with funds leaving the market far exceeding those entering.

The continuous outflow of funds, combined with the sluggish market sentiment, indicates that investors' confidence in Pi is seriously diminishing. Without new capital inflows or an improvement in market sentiment, it will be difficult for the token to regain its previous levels of activity.

(Source: Trading View)

Pi Coin Price Analysis: Is There Still Rebound Potential in the Short-Term?

Currently, the trading price of Pi is $0.44, which is only 9% higher than its average price of $0.4. Over the past two months, this altcoin has been in a downtrend, and the lack of solid support may lead to further fall.

As investor sentiment continues to deteriorate, the PI coin may soon test the bottom of $0.40 and is likely to fall further.

Due to the sluggish market sentiment and bearish technical indicators, Pi may find it difficult to gain support in the short term. If it falls below the support level of $0.40, the altcoin could further decline to a new low of $0.36 — which would represent a significant loss for holders whose investment value continues to shrink.

However, if investor sentiment improves and Pi is bought at lower levels, a rebound is still possible. If Pi breaks through the resistance level of $0.51 and turns it into solid support, the shift to positive momentum will be confirmed. This would negate the current bearish argument and open the door for further increases.

(Source: Trading View)